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<br />2.3. Possession fJI PremiSes; Remedies under LoanA.~re.m~t'~
<br />The Grantor hereby waives all right to the possesn()h;ii~9llt"j
<br />and rents of the Premises from and after the oc:currew::eof~~~,
<br />Default, and the Beneficiary is hereby expresslyaUthor,ir;~:~1;:1'
<br />empowered, at and following any such occurrence, toellterJ.l);1;(j>
<br />and upon and take possession of the, Premises or. anY1=lartth~r~/?~;;;:
<br />to complete any construction in progress thereon at. thel!'~*llriSill';'"
<br />of the Grantor, to lease the same, to collect anCi recei:vea.:t,J) .
<br />Rents and to apply t."le same, less the necessary (>1" appr()PJS;j:~~l!"
<br />expenses of collection thereof, either for the care, operation
<br />and preservation of the Premises or, at the electi..on . of' the'
<br />Beneficiary in l ts sole discretion, to a reduction of such of'the<
<br />Liabili ties in such order as the BEmeficiary may elect. The
<br />Beneficiary, in addition to the rights provided under the Loan
<br />AgreK~ent, is hereby granted full and complete authority to enter
<br />upon the Premises, employ watchmen to protect the GOods and
<br />Improvements from depredatlon or injury and to preserve and
<br />protect the Colla~eral, and to continue any and all outstanding
<br />contracts for the erections, and completion of Improvements. to
<br />the Premises, to make and enter into any contracts and
<br />obligations wherever necessary in its own name, and to pay and
<br />discharge all debts, obligations and liabilities incurred
<br />thereby, all a~ ~he expense of the Grantor, All such
<br />expendittlres by the Beneficiary shall be Liabilities hereunder.
<br />"1-'''''' <-he occurrence of any befau)"", the Benef~c:lary may also
<br />exercise any or all rights or re-aoe<':' :'s und(::r the Loan Agreement,
<br />including, without lirnitat:lon, ~sbursement of the undisbursed
<br />bal ance of the Note to complete bui Idings and improvements or
<br />perform obligations of the Grantor under any Contract for Sale,
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<br />2,4, Foreclosure; Receiver, Upon the occurrence of any
<br />Default, 5eneflclary may-'(a)~le one or more suits at law or in
<br />equity for the foreclosure of this Deed or to collect Grantor's
<br />Liabili ties. In the event of the commencement of any such suit
<br />by Beneficlary~ Beneficlary shall have the right, either before
<br />or after sale, without notice and w:lthout requiring bond (notice
<br />and bond being hereby walved), without regard to the solvency or
<br />~nsolvency of Granter at t:he tlme of aoolication and without
<br />regard 'to the then value of the Premises or whether the same is
<br />then occup~ed, to make appllcatlon for and obtain the appointment
<br />of a recel'Jer ior t:he Premlses, Such receiver shall have the
<br />power to collect; t:he Rents durlng the pendency of such suit and,
<br />In case of a sale and a defic~ency, durlng the full statutory
<br />period of redemptlon, as well as curlng any further times when
<br />Grantor, except for the intervention of such receiver, would be
<br />enti tled to co llec1: the Rents, and shall have all other powers
<br />whlch may be necessary or usual ln such cases for the protection,
<br />possessionl control f ma.nagement and operation of the Premises.
<br />The court before which such SUlt is pendlng may from time to tlme
<br />authoru:.e the receiver to appl y the net lncome in hi shands 1 n
<br />payment, In whole or in part, of Grantor's Liabilitles. In case
<br />of a sale pursuant to foreclosure, the Premi ses may be sold as
<br />one parcel,
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<br />(b) Exercise any other remedles or rights permitted or
<br />provided under 01' by the laws 01' declslons of the Sta1:e of
<br />Nebraska (lncluding all rights of a secured party under the
<br />Unifor~ Commercial Code of the State of Nebraska), accruing to a
<br />beneficiary under a deed of trust, upon a default by a grantor or
<br />trustor, includlng without liml tatlon the Trustee' s nOn)UdlClal
<br />power of sale as follows:
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